HFZA explores investment opportunities with Turkish delegation
(Pakistan Point News - 27th Feb, 2023) SHARJAH, 27th February, 2023 (WAM) – A delegation of 143 senior officials and directors from prominent food and beverage companies in Turkiye recently visited the Hamriyah Free Zone Authority (HFZA) to explore new investment opportunities and experience the quality services provided to investors in the sector.
During the visit, the Turkish delegation was briefed on the investment incentives and advantages offered by the "Food Park," the first and largest integrated city for food and commercial industries in the UAE and the region. They were introduced to the exclusive services provided by the complex, specially designed for investors in the food industry sector.
Welcoming the delegation, Saud Salim Al Mazrouei, Director of HFZA, emphasised the zone's keenness to attract Turkish investments and promote stronger investment and trade ties between the UAE and Turkiye. He noted that the UAE is Turkiye's first trading partner in the Arab region, with non-oil foreign trade valued at about AED 50.368 billion in 2021, and that bilateral and economic relations between the two countries have recently achieved qualitative leaps.
Al Mazrouei further stated that the "Food Park" within HFZA plays a crucial role in supporting the business sector not only in Sharjah but also in the UAE. Serving as a central hub for the food industry, the complex offers a range of incentives through various commercial licences, including processing, assembly, packaging, and manufacturing.
Investors can benefit from exemptions on import and export taxes, access to industry experts and regulatory bodies to stay up to date with the latest best practices, and a seamless platform for direct communication with food industry investors, facilitating uninterrupted business operations.
The Turkish delegation was provided with an extensive presentation on the Hamriyah Free Zone, which houses over 6,500 investors from 163 countries worldwide. The presentation highlighted the free zone's outstanding efforts to attract and increase foreign direct investment flows, thus bolstering Sharjah’s economy across several significant sectors, such as food, logistics, heavy industries, minerals, the maritime sector, oil and gas, and entrepreneurship.
The delegation toured several factories in the free zone and food park, inspecting the infrastructure and logistical services provided. They lauded the competitive advantages and facilities available, and noted the convenience of obtaining various licences within an hour.
The Hamriyah Free Zone stands as one of the most prominent and successful free zones in the region, offering a crucial platform for companies that seek to tap into new markets and expand their growth from the free zone. Its strategic location at the centre of global trade in Sharjah and its proximity to various major regions in the UAE, the region, and beyond make it an ideal destination for investors.